The Economic Secretary to the Treasury, Simon Kirby MP, has issued a written statement confirming that the Government has decided not to opt in to Article 31(1) of the proposed new Prospectus Regulation.

Article 31(1) of the Regulation requires that where Member States have chosen to pursue a criminal sanctions regime for breaches of elements of the proposals, those Member States must ensure that information can be shared between competent authorities across the EU. As the provision requires cooperation involving law enforcement bodies, the Government believes that these are Justice and Home Affairs (JHA) obligations and the UK’s JHA opt-in is triggered.

View European Union opt-in decision: Prospectus Regulation: Written statement, 24 January 2017